Many leases require tenants to carry RENTERS INSURANCE. This is inexpensive (low as $12. per month).
The following was taken, in part, from the AOL Real Estate blog :
"Renter's Insurance protects the tenant's personal property from losses caused by fire or theft. It also protects a tenant against liability (legal responsibility) for many claims or lawsuits filed by the landlord or others alleging that the tenant has negligently (carelessly) injured another person or damaged the person's property.
"Your landlord probably has insurance that covers the rental unit or dwelling, but you shouldn't assume that the landlord's insurance will protect you. If the landlord's insurance company pays the landlord for a loss that you cause, the insurance company may then sue you to recover what it has paid the landlord and other parties.
"Carelessly causing a fire that destroys the rental unit or another tenant's property is an example of negligence for which you could be held legally responsible. Another example would be someone who is injured on snow or ice that you were responsible for clearing. You could be required to pay for the losses that the landlord and/or other party suffers.
"Renter's Insurance would pay the other party on your behalf for some or all of these losses.
"When shopping for Renter's Insurance, be certain that it provides the protection you need, and is fairly priced. You should check with more than one insurance company, since the price and type of coverage may differ widely among insurance companies. The price also will be affected by how much insurance protection you decide to purchase.
"If you want to use a waterbed, the landlord can require you to have a waterbed insurance policy to cover possible property damage. Also, having certain breeds of dogs could require you to have renters insurance.
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